Separately, a small business lending website backed by Citigroup and the U.S. Treasury Department and run by Biz2Credit will shut down. Launched in May 2015, DCSmallBizLoans.com was intended to bring online lending technology to small businesses in underserved Washington D.C. communities. The website matched up small businesses with four Community Development Financial Institutions (CDFIs), government-backed lenders that serve low-income communities. Citigroup had agreed to fund the website for two years, after which it was expected to become self-sustaining, said Steve Glaude, president and chief executive officer of the Coalition for Nonprofit Housing and view publisher site Economic Development, a non-profit that organized the effort.
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